Dublin, July 18, 2023 (GLOBE NEWSWIRE) -- The "Electronic Contract Assembly Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service and End User" report has been added to ResearchAndMarkets.com's offering.
The electronic contract assembly market is projected to reach US$ 251.6 billion by 2028, growing at a CAGR of 10.3% from 2023 to 2028.
Electronic contract assembly plays a crucial role in the manufacturing and assembly of electronic components and systems. The companies specializing in electronic contract assembly market provide a range of services, including surface mount technology (SMT) assembly, through-hole assembly, cable and wire harness assembly, electromechanical assembly, system integration, testing and inspection, and final product packaging.
The market caters to various sectors, such as healthcare, automotive, aerospace, consumer electronics, and telecommunications. The increasing complexity and miniaturization of electronic devices drive the electronic contract assembly market. As electronic devices become more advanced, they require detailed and precise assembly processes that may be challenging for small and medium-sized companies to handle in-house. Outsourcing to electronic contract assembly market providers allows companies such as Samsung, Intel, and Microsoft to access specialized expertise, advanced equipment, and economies of scale.
The growing advancement in telecommunication networks is bringing higher speeds, better reliability, and lower latency. Various key players are enhancing the 5G infrastructure in developing countries. For instance, in August 2021, Indosat Ooredoo, an Indonesian communications service provider, signed a partnership agreement with Ericsson to launch commercial 5G services in the nation's capital, Jakarta.
Similarly, in February 2023, Siemens launched its first industry-ready 5G routers in India. Such commercial 5G networks serve various applications such as intralogistics, autonomous machines, industrial edge, remote diagnostics, augmented reality, assisted work, wireless backhaul, edge computing, and mobile equipment. This 5G telecommunication network is the key enabler of applications such as intelligent automation, smart manufacturing, and connected mobility. Moreover, the growing 5G infrastructure is propelling the demand for new smartphones.
The smartphone manufacturing industry is one of the industries witnessing a growing number of outsourcing electronic manufacturing contracts in electronic contract assembly market. Thus, the rising number of smartphones, smart manufacturing, and intelligent automation owing to the increasing penetration of the 5G network is expected to offer lucrative the electronic contract assembly market opportunities.
Companies Mentioned
- Creation Technologies LP
- Precision Manufacturing Company Inc
- Benchmark Electronics Inc
- Celestica Inc
- Compal Electronics Inc
- Fabrinet Co Ltd
- Matric Group Inc
- Jabil Inc
- Filtronic Plc
- Flex Ltd
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 152 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $142.8 Billion |
| Forecasted Market Value (USD) by 2028 | $251.6 Billion |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Electronic Contract Assembly Market Landscape
5. Electronic Contract Assembly Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of Semiconductor Industry
5.1.2 Integration of Advanced Technologies in Electronic Manufacturing
5.2 Market Restraints
5.2.1 Growing Concerns About Information Leaks and Intellectual Property Theft, and Instability
5.3 Market Opportunities
5.3.1 Rising Penetration of 5G
5.4 Future Trends
5.4.1 Shift Toward Electric Vehicles (EVs)
5.5 Impact Analysis of Drivers and Restraints
6. Electronic Contract Assembly Market - Global Market Analysis
6.1 Global Electronic Contract Assembly Market Overview
6.2 Global Electronic Contract Assembly Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Electronic Contract Assembly Market Revenue and Forecast to 2028 - Service
8. Electronic Contract Assembly Market Revenue and Forecast to 2028 - End-User
9. Electronic Contract Assembly Market - Geographic Analysis
10. Electronic Contract Assembly Market - Covid-19 Impact Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/p7a1bx
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